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Scotiabank Releases its 2019 Environment, Social and Governance Report

Published 04-22-20

Submitted by Scotiabank

Originally published on the Scotiabank news site

Scotiabank released its 2019 Environment, Social and Governance (ESG) report, a comprehensive review of how the bank is working to build a more sustainable future for its stakeholders – from shareholders, to customers, employees, communities and the natural environment.

“As a leading bank in the Americas, Scotiabank is guided by our purpose, for every futureTM,” says Meigan Terry, Senior Vice President, Global Communications and Social Impact. “Our 2019 ESG reports outlines Scotiabank’s continued aspirations to enable a better, more prosperous future, for our customers and the communities in which we live and work. In addition, the report highlights our efforts to proactively address the challenges of our world today – such as the changing climate and the opportunities that will arise from a transition to a low-carbon economy.”

Scotiabank’s 2019 ESG Report outlines bank performance on a number of environmental, social and governance issues. Highlights include:

Environment

  • Issued USD$500 million Green Bond to fund eligible assets under the Scotiabank Green Bond Framework

  • Mobilized $16 billion in capital toward our commitment of $100 billion by 2025 to reduce the impacts of climate change, as of October 31, 2019

  • Reduced the Bank’s global greenhouse gas (GHG) emissions by 17 per cent from a 2016 baseline, overachieving our 10 per cent target

  • Implemented a Climate Change Risk Assessment tool for corporate and commercial lending, to assess risks clients may face due to climate change

Social

  • Contributed nearly $100 million globally to communities where we operate in the form of donations, sponsorships and other forms of assistance

  • Allocated $3 billion in capital within the first three years of The Scotiabank Women InitiativeTM to advance women-led businesses in Canada

  • Launched three new programs to help upskill and reskill employees for the digital economy  

Financial services support economic progress, allow people to pursue ambitions and create more widespread future opportunities. By paying careful attention to the areas where we feel we can have the biggest impact, Scotiabank creates economic, social and environmental value for its customers, employees, communities and the planet, while also delivering returns for shareholders.

To view Scotiabank's full 2019 ESG report, please visit: www.scotiabank.com/sustainability.

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future,” we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 100,000 employees and assets of approximately $1.2 trillion (as at January 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

For media enquiries only:

Erin Truax, Scotiabank 416.578.9659 Erin.truax@Scotiabank.com

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